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Airstrikes reduce Islamic State oil production by 50,000 bpd

The extremist group Islamic State is experiencing a major setback in oil production a month after the U.S. began its airstrikes on the group, according to Petro Global News.

Based on reports from the International Energy Agency, overall oil production from fields seized by IS has decreased from roughly 70,000 barrels per day to about 20,000 barrels per day. Prior to the airstrikes, IS had taken control of seven oil fields, a refinery in Iraq and another six oil fields in Syria. In September, the airstrikes also destroyed 15 refineries under IS control in Syria.

The air campaign is causing much frustration for the jihadists and their abilities to continue operating the oil fields and refineries. The IEA reports that at the highest output, IS was shipping about 20,000 barrels of oil per day using about 120 tanker trucks travelling from Iraq through Kurdistan. Due to the airstrikes, shipments have fell to about 2,000 barrels per day. Numerous smaller refineries have also been destroyed, reducing the extremist group’s gasoline supply.

Turkey and Kurdistan have also increased efforts to reduce smuggling by capturing IS controlled tanker trucks and by arresting the drivers. The captured assets were estimated to be providing the group with $2 million per day, funds which were used to support its combat operations.

Click here to read the full report.

In related news, US-led strikes hit IS group oil areas for 2nd day.

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